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Long term rental - short term use??

Posted: Sun Sep 8, 2019 12:05pm
3 replies122 views3 members subscribed
LSD

Posts: 20

10 helpful points

Location: Los Dolses

Joined: 28 May 2019

We’re going to Orihuela Costa this week to look for a holiday home for family use only. Plan/hope to get something for ~€95k inc fees & prefer bit inland.

We’ve holidayed in various areas over last 20 years twice yearly but plan to add in long weekends etc for couple years & hopefully on 4/5 years spend longer periods.

A colleague (playing devils advocate)  suggested trying long term rental for 1-2 years as a trial to see if we would feasibly make as much use as we’re thinking. 

QUESTION IS - would landlords consider this - obviously we’d be paying full rent/bills etc (like a someone living in it permanently) but their property would be vacant for long periods - I suppose effectively it would be like rent to buy - but not buying or TRY BEFORE YOU BUY

FionaS

Posted: Sun Sep 8, 2019 10:16pm

FionaS

Helpful member

Posts: 220

171 helpful points

Location: Orihuela Costa

Joined: 2 Jan 2018

Posted: Sun Sep 8, 2019 10:16pm

Hi I have a friend who rents long term but only comes for holidays, has done for 5 years, perhaps you can try asking potential rental agents/private owners, I am sure that as long as they are getting their money they are not about to object, they should have the proper insurance in place anyway and as long as the bills are paid (you will need a spanish bank for this but it is just to take your rental agreement) can't see a problem. 

Cheryl

Posted: Mon Sep 9, 2019 9:18am

Cheryl

Legendary helpful member

Posts: 2973

3538 helpful points

Location: Albatera

Joined: 8 Jun 2017

Posted: Mon Sep 9, 2019 9:18am

The only problem I can see is the insurance as it would, in effect, be a holiday home and the risks are therefore all greater. If something happens, like a leak or flooding, there will be nobody there to spot it and the damage would cause more problems the longer it is left so most insurances will have a limit on how long it can be empty (180 days?). The owner would have to take out the insurance and they often carry an excess of €1000 for water damage. Another important thing is that damage by gradual process is excluded so if the property is unoccupied for months over the winter, unheated and closed up, damp can be a problem, causing mould growth. I've also got reservations if family members visit without any of the lease holders being there. I'm not sure I would want the hassle as an owner and would it be accepted as a long term let or would the authorities consider it a holiday let and requiring a Tourist Licence? Just playing devil's advocate!
You would have to pay the monthly standing charges for electric and water on top of the rent plus any internet and TV package (switch on and off rates are available).
If you are planning to visit more regularly car hire costs will add up over the year and Orihuela Costa is a fair way from both airports so using public transport will be time consuming for short breaks.
I would definitely consider renting before buying and would suggest renting holiday lets in different areas at different times of the year and whilst there consider how they would work longer term. If you always rent a car, how easy will parking be at the coast if you have to drive there? Will you be relying heavily on the N332 which can be a nightmare? Will it be deserted in winter?
Buying is expensive here and selling even more so and as there are always thousands of properties for sale it could take months or even years to sell. If you do consider buying visit the immediate area in August and February beforehand so you see both ends of the spectrum and consider the possible 90/180 day maximum stay post Brexit.

LSD

Posted: Mon Sep 9, 2019 11:46am

LSD

Original Poster

Posts: 20

10 helpful points

Location: Los Dolses

Joined: 28 May 2019

Posted: Mon Sep 9, 2019 11:46am

Tks Cheryl - talking to hubby last night & he too mentioned a lot of your "what ifs" and wasn't blown over by the responsibility of having to look after someone's property from Ireland! 

We're always in the area May/June/Jul time and again in Sept, and after breaking away from holiday rentals and going on all inclusive package holidays last couple of years (for 1 of our breaks), our teenage boys just want to holiday in Torrevieja.  We're at stage where we're financially able to do this mortgage free and will more than likely take the plunge.

outside family holidays I'm the type who keeps an eye & pounces on low flight costs - our local airport has early Friday out/late Monday return, which is good.  We've  used same car hire company for last 5 years and find them amazing, but will consider buying car if/when we start staying longer.

Anyway, we're set up with a Spanish version of Phil/Kirstie for next week, so we'll have a look!

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